RF Industries (NASDAQ:RFIL) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Shares of RF Industries, Ltd. (NASDAQ:RFIL) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.66 and traded as high as $10.57. RF Industries shares last traded at $9.83, with a volume of 236,910 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RFIL shares. Weiss Ratings upgraded shares of RF Industries from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, January 15th. Zacks Research raised RF Industries from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Finally, B. Riley Financial downgraded shares of RF Industries from a “buy” rating to a “neutral” rating and set a $10.25 target price for the company. in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.25.

RF Industries Stock Down 11.0%

The company has a market cap of $105.28 million, a PE ratio of 491.75 and a beta of 1.01. The stock’s 50 day simple moving average is $8.42 and its two-hundred day simple moving average is $7.66.

RF Industries (NASDAQ:RFIL) last issued its earnings results on Wednesday, January 14th. The electronics maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.11. The business had revenue of $22.69 million for the quarter, compared to analyst estimates of $19.38 million. RF Industries had a return on equity of 10.08% and a net margin of 0.09%. Analysts forecast that RF Industries, Ltd. will post 0.11 EPS for the current year.

Institutional Investors Weigh In On RF Industries

Hedge funds have recently added to or reduced their stakes in the stock. AMH Equity Ltd acquired a new position in RF Industries during the 3rd quarter valued at about $1,843,000. Ritholtz Wealth Management purchased a new position in shares of RF Industries in the third quarter worth approximately $754,000. Huntleigh Advisors Inc. acquired a new stake in RF Industries during the 3rd quarter valued at $678,000. Heron Bay Capital Management purchased a new stake in RF Industries in the 2nd quarter worth about $67,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of RF Industries during the third quarter worth approximately $44,000. 23.49% of the stock is currently owned by institutional investors.

RF Industries Company Profile

RF Industries, Inc (NASDAQ: RFIL) is a manufacturer and supplier of connectivity products and solutions for the wireless, broadcast, cable television, data networking, defense and aerospace markets. The company specializes in both standard and custom coaxial and fiber-optic cable assemblies, connectors, adapters and test accessories designed to withstand demanding environmental conditions. Through its product portfolio, RF Industries supports applications ranging from RF signal transmission and satellite communications to industrial automation and instrumentation.

The company’s offerings include premade and build-to-print coaxial cables and assemblies, field-installable connectors, power distribution components and calibration-grade test equipment.